Tuesdays at 9:20pm on ABC TV.

Panama - U.S. Retirees

Panama – the land bridge between North and South America and synonymous with one of the world’s busiest trade routes is gathering a new reputation.

For the middle class of the United States Panama offers a sunny and relatively cheap retirement option.

The government of Panama have done their best to make it as attractive as possible for foreigners.

There’s no tax on foreign earned income and those who build or buy a new house pay no property taxes for 20 years .

One of the US retirees Chris Dyer told reporter Tracy Bowden, “They offer a range of discounts and incentives that make it very attractive, especially for older folks. Discounts on travel, medicines, doctors and every restaurant meal is discounted.”

Even so the Dyers who are part of the global grey nomad movement spend only half the year in Panama. The rest is spend messing about on their boat moored near Cairns in North Queensland.

Panama, say the Dyers, is “wild and woolly” whereas Australia is a “calmer, more controlled society.”

An estimated 30,00 citizens of the US have taken the Panama option and many more are on the way, fuelling a building boom, not just in Panama but also on the beaches and in the mountains.